Euro Pacific Canada Appointed Lead Corporate Financial and Transaction Advisor

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/17/13 -- GLOBAL COBALT CORP. ("Global Cobalt") (TSX VENTURE: GCO) (the "Company") is pleased to announce that it has entered into an agreement (the "Agreement") with Euro Pacific Canada Inc. ("Euro Pacific") as lead Corporate Financial and Transaction Advisor (the "Advisory Services").

"The demand for strategic metals remains a priority globally, with cobalt in particular gaining more recognition for its criticality in the battery and electronics sector," says David Cusson, CEO of Euro Pacific Canada. "Euro Pacific is supportive of the cobalt market and believe that Global Cobalt is the ideal company to fill this niche market and are delighted to have been appointed as financial advisors for this prestigious company and project portfolio."

In its Corporate Transaction Advisory role, Euro Pacific will assist and advise Global Cobalt with the identification and assessment of potential merger and asset acquisition, joint ventures, business combination opportunities and the initiation of contact with candidates.

Euro Pacific will further assist in a Corporate Financial role by administering specific advice on various financing alternatives, and recommendations with respect to institutional investors, including facilitating access to appropriate potential institutional investors for the Company. They will also cater to the Company by facilitating access to experienced analysts and capital markets staff with specialized industry knowledge and understanding.

In compensation for the Advisory Services the Company shall pay an Advisory Fee to the Advisor equal to $50,000 paid in units, subject to TSXV approval. Each such unit will be comprised of one Common Share and 1 share purchase warrant, each such warrant entitling the holder to purchase an additional Common Share at an exercise price of $0.14 for a period of 2 years. Additionally, the Corporation shall the Advisor a cash fee of $15,000 per month for six months beginning July 2013.

"Euro Pacific is the preferred gateway for our Company's exposure to the capital markets. David Cusson and his team have extensive cross border financial advisory experience and the capability to support our projects with a continuum of financial services," says Erin Chutter, President and CEO of Global Cobalt Corp.

Global Cobalt is also pleased to announce that through Euro Pacific's involvement it has entered into a definitive securities purchase agreement with an individual investor to purchase 1,136,334 units (each a "Unit") of the Company (the "Unit Offering") at a price of CAD $0.11 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant struck at CAD $0.14 for 2 years.

Upon closing, the transaction will result in gross proceeds to Global Cobalt of approximately $125,000, before deducting placement agents' fees and offering expenses. Proceeds from the transaction will be used to fund the Company's operations and working capital requirements.

"This financing is a critical milestone to ensure that we will continue to have funds in place to operate over the course of the next 12 months and to ensure the funds raised stay focused on the development of the Karakul project," said Erin Chutter, President and CEO.

The individual will also be participation in a separate offering of 11 subscription rights. Each subscription right allows the holder the right to purchase up to $250,000 of units (a "Subscription Right Unit") at 20% below 30-calendar-day VWAP not to exceed 25% discount to previous day's close. Each Subscription Right Unit will consist of 1 common share and 1 common share purchase warrant struck at 20-day VWAP + 20%. The subscription rights will expire at a rate of 1 subscription right per month at the end of each month, starting 60 days from closing of the offering. Upon notice to the holder, the Company may limit any individual subscription right to $125,000. Neither the subscription rights nor the warrants comprising the Subscription Right Units can be exercised in the event that said exercise would put the holder over 9.9% ownership.

The Company will pay a finder's fee, at the closing of the Offering and subsequent subscription rights closings, subject to TSXV acceptance, a fee consisting of a cash payment equal to 8% of the gross proceeds raised from and transferable share purchase warrants of the Company (the "Finder's Warrants") to the Finder equal to 8% of subscriptions in the Offering and subsequent subscription rights closings from persons introduced to the Company by the Finder. Each Unit is comprised of one common share of the capital of the Corporation (a "Common Share") and one warrant (a "Warrant") on the same terms as the Offering, or subscription rights.

In addition, the Company will be offering an additional 1,136,334 Units with other subscribers at a price of $0.11 per Unit for additional gross proceeds of $125,000.

All securities issued in connection with the Offering will be subject to a four month hold period from the date of issuance in accordance with applicable securities law. The closing of each offering is subject to receipt of TSX approval.

Global Cobalt Corporation:

Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.